Hoping it remains quashed.

You'll definitely get the long term appreciation in the San Diego market since our supply levels remain low which helps to insulate our market here, but it will be hard to cash flow on immediately unless you use one of the above strategies I mentioned. 

. - and more..I'd recommend remaining active not only here on BiggerPockets, but in other valuable RE investment networks that you can find - i.e. local meetups (meetup.com, eventbrite, BP local events). 

I could not find the answer I'm looking for when searching.The following example could be used:- Amount invested $100k- Preferred return (5 years): 8% or $8k- Disposition (Sale) (Year 5): $200kThis simple example assumes no cash flow beyond the preferred return, no cost segregation/bonus segregation, and doesn't take depreciation into account.Would the first 5 years of cash flow (preferred return) not be taxed, and only the remaining amount on the disposition would be taxed (e.g. $200k - $100k + 5 * $8k = $140k)?  

1031 exchange from a sale of a rental property plus HELOC to fund the remaining.

But as soon as you make a direct booking site and start an escrow account (among other things) you then cross that legal boundary between a co-host and a property manager needing a broker license (depending on your state).We CO-HOST for others and remain separated from those legal parameters that would consider us a property manager.

Only invest in cities with significant and sustained population growth.Lasts throughout your lifetime: For your rental income to last, your tenants must remain employed at similar wages.

We are currently buying blend and extends with tenants having low years remaining on the guaranteed primary lease term.Closed on one last month at 11 cap rate.

Of the remaining 25%, half are assuming risks inappropriate with the possible returns.  

You still have flooring, cabinets, bathrooms, plumbing, insulation, paint, etc, so all that cost remains the same it would seem.